Europe’s results were positive when compared with September 2015. The region reported a 0.8% increase in occupancy to 81.0%, a 2.6% rise in ADR to EUR123.23 and 3.4% lift in RevPAR to EUR99.77.
Compared with the three key performance metrics from Q3 2015, Europe reported a 0.5% decrease in occupancy to 77.7%. However, a 2.0% increase in average daily rate (ADR) to EUR119.17 resulted in revenue per available (RevPAR) growth of 1.5% to EUR92.58.
Finland reported a strong quarter, mainly due to growth in ADR (+8.9% to EUR99.67). Occupancy also increased moderately (+0.4% to 71.5%), resulting in a 9.3% increase in RevPAR to EUR71.27. The absolute ADR level was a Q3 record for the country, and although occupancy growth was muted, the actual occupancy level was Finland’s highest for a third quarter since 2011. STR analysts note that weekday occupancy increased 5.6% to 70.6%, while weekend absolute occupancy was slightly higher at 71.9%.
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